Category: Economy and Markets
Sri Lanka November inflation falls to 16.3-pct
Nov 28, 2008 (LBO) – Consumer inflation in Sri Lanka’s capital Colombo fell to 16.3 percent in November from 20.2 percent in October, while prices fell by an absolute 0.7 percent in the 28 days of the month, the government’s statistics office said. The moving average of the index, which is smoothed over two years […]
Floods drive 231,000 from their homes in Sri Lanka
November 27, 2008 (AFP) – At least two government soldiers drowned and more than 230,000 civilians were driven from their homes in Sri Lanka’s embattled north Thursday after monsoon floods and a mini-cyclone, officials said.The Disaster Management centre said the northern peninsula of Jaffna was the worst hit, with 2,032 homes completely destroyed and another […]
Sri Lanka shares rise marginally, Distilleries boosts trading volumes
Nov 28, 2008 (LBO) – Sri Lankan share prices ended slightly firmer Friday, with volumes pushed higher by large trades in Distilleries Company but concerns over company earnings still weighing on the market, brokers said. Tissera said the large transactions in Distilleries Company accounted for the bulk of the day’s trading volumes. Over 11.2 million […]
Sri Lanka shares rise, gains seen short-lived
Nov 27, 2008 (LBO) – Sri Lankan share prices rose Thursday, breaking a long slide but brokers said the gains could be short-lived given the negative investor sentiment, poor company earnings outlook as well as rupee devaluation fears. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The […]
Sri Lanka should be prepared for a prolonged external slowdown: interview
Nov 27, 2008 (LBO) – Sri Lanka should be prepared for a prolonged external slowdown as the world recovers from excessive debt brought on by paper money central banks, especially the Federal Reserve, says a Netherlands-based economist. Howard Nicholas from the Institute of Social Studies in the Netherlands spoke to LBO during a visit to […]
Sri Lanka clamps down on last minute spending
Nov 26, 2008 (LBO) – Sri Lanka has clamped down on new spending, with the Treasury asking government departments to freeze new capital projects and current spending till next year, amidst tight revenues.The government has also been finding it difficult to borrow abroad. A Treasury circular said the government had decided to “manage public expenditure […]
Sri Lanka shares slide, trading thin
Nov 26, 2008 (LBO) – The slide in Sri Lankan stocks picked up momentum slightly Wednesday, although volumes remained thin with the indices dragged down by losses in high value shares, brokers said. The market has also been affected by lower corporate profitability which is seen continuing given the current economic downturn. Fears of currency […]
Sri Lanka cuts reserve ratio to 7.75-pct
Nov 25, 2008 (LBO) – Sri Lanka has cut its statutory reserve ratio for commercial banks from 9.25 percent to 7.75 percent, releasing 17 billion rupees in cash to the banking system, the central bank said. The statutory reserve ratio (SRR) cut will release 17 billion rupees to the banking system when it becomes effective […]
Sri Lanka shares slide, Dialog actively traded
Nov 25, 2008 (LBO) – Sri Lankan stocks sank further Tuesday on thin volumes with active trading in Dialog Telekom, a market heavyweight which recently posted its first quarterly loss. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The All Share Price Index fell 1.81 percent (29.94 […]
Sri Lanka shares head down, ignore battlefield gains
Nov 24, 2008 (LBO) – Sri Lankan stocks began the week on a dreary note with the market continuing its downward march Monday on low trading volumes and brokers saying the bearish trend could continue.Liyanage said investors were also shifting funds from equities to debt, where returns are higher, but find they are stuck in […]
Gulf shares slump despite government moves
KUWAIT CITY, November 23, 2008 (AFP) – Most stock markets in the energy-rich Gulf slumped on the week’s opener Sunday as intervention by governments failed to restore sentiment among investors worried by global financial turmoil. Riyadh cut interest rates for the third time in six weeks, slashing the repo rate by one percentage point a […]
Sri Lanka injects term money at lower rates; CB bill stock Rs109bn
Nov 24, 2008 (LBO) – Sri Lanka’s central bank has printed and injected money up to nine months at rates lower than its penal discount window to sterilize interventions in the forex market, the latest data showed. To receive instant alerts from LBO on your Dialog mobile type ‘lbo’ and send to 678 The rupee […]